The preferred credit card over cash on vacation

We have already written to you: a credit card is essential when traveling. On site, of course, but also during the preparation of it, impossible to do without. This is highlighted by a survey of 1,000 Belgians over the age of 18. Thus, 2 out of 3 Belgians always or most often use their credit card in preparation for their trip. Would cash be gradually replaced by credit cards and other bank cards?

You will not be surprised that we Belgians like to prepare our holidays to the smallest detail. We plan the majority of our vacation three months or more in advance. An essential element in this context: the reservation of transport and accommodation. We can see that the credit card is very popular with Belgians as a means of payment. When booking flights, stay, but also for payments on the spot, we prefer to take out our card rather than cash.

The question is whether cash will find its place in our portfolios for a long time. Dan Vermilaghe , Head of Retail Products at Lite Lenders Bank, underlines a strong trend: “The popularity of cash payments decreases over the years. Payment by card is generally considered to be simpler, easier and more secure. Younger generations are more likely to turn to bank cards while older people will prefer credit cards.

The flight

When booking your flight, you cannot use cash to buy your tickets. But you will always have the choice between bank card and credit card. When Belgians choose to fly to their holiday destination, 40% prefer to use their credit card. A figure that tends to change with the latest generations, probably because a majority do not yet have a credit card. Most 18-34 year olds (42%) then use their bank card to pay. The survey also showed that bank cards are less popular as one goes up in ages.

The stay

Your credit card will often be requested when booking your stay, especially if it is a hotel. Almost half of Belgians see this as no problem, as they often prefer their credit card when booking a stay. 30% will opt for the bank card while only 8% choose cash payment. This part of the study shows a link between the means of payment and the age of the users. Young people (40%) prefer their traditional bank card while the other age groups range between 25 and 28%.

Payments abroad

A credit card not only finds its use during the preparation of your trip, but also during it. It remains the favorite means of payment for 4 out of 10 Belgians, a score that reaches 46% among those over 55. Rightly so: a credit card makes your life abroad easier. You pay in many places without having to go to an ATM. In addition, you can sleep on both ears, as they are secure.